Cryptocurrency Master Thread

[steve dave]

confirmed sd is a bigger crypto nerd than dbt

I'm for sure not. I never talk about this stuff with anyone other than gE people, my brother, and my accountant. The only reason I got interested and keep up at all with it is the financial publications, podcasts, media started to run with it more heavily. I'm definitely more of a stonks guy.

[Spracne]

I'm about to buy a crap ton more SHIB, I've decided.

[steve dave]

I'm about to buy a crap ton more SHIB, I've decided.

it's certainly kicking a ton of asses

[Spracne]

I now own hundreds of millions of this crap, thanks to the fiduciary advice from my personal friend and agent stevedave.

[steve dave]

damn, nice work by stevedave for sure there

[turnbull]

I also have 100+ million Shiba INU, I made a ton of cash CVC Coin so i kinda split the different with profit taking to get over the 100 million club of Shiba. I also do the Pi Network (where they are mining Tokens on your phone). It's suppose to go live here in December but no one really knows for sure on it.

[catastrophe]

I'm almost certainly going to butcher the hell out of this but here goes my retelling of a recent odd lots episode where it was covered:

another great use for crypto is avoiding paying your taxes. but legal, like a rich guy. really wealthy people will have vast amounts of equity or other capital. but they can't sell it to get american dollars because then they'd have to pay taxes on the cap gains which rich people HATE. so, instead, they just take out a loan on backed by that asset and use that money. zero to you tax man and I'm only out a small interest rate on that loan. well, defi and crypto make it pretty easy for the everyman to do that. you own like an entire btc but you bought at $100 so you know for damn sure you aren't selling that thing and paying taxes on it. you could sell it to some sleazy back alley deal maker like kat kid off the books OR you could just use your neighborhood crypto exchange to give you a loan in united states dollars backed by that asset. now you've got your cash and no money to mr. tax bad person USA. this is probably a big piece of why the gov. can't decide if it hates crypto's guts yet or not. people "stake" crypto on some exchanges and get massive interest rates paid on it and don't know how that works. this is a lot of what's going on behind the scenes. it could for sure blow up in your face but probably not. FTX does a lot of this stuff I think.

Love this idea, but the only estimate I’ve seen so far is from Coinbase and they’re offering 8% APY

[KITNfury]

I'm almost certainly going to butcher the hell out of this but here goes my retelling of a recent odd lots episode where it was covered:

another great use for crypto is avoiding paying your taxes. but legal, like a rich guy. really wealthy people will have vast amounts of equity or other capital. but they can't sell it to get american dollars because then they'd have to pay taxes on the cap gains which rich people HATE. so, instead, they just take out a loan on backed by that asset and use that money. zero to you tax man and I'm only out a small interest rate on that loan. well, defi and crypto make it pretty easy for the everyman to do that. you own like an entire btc but you bought at $100 so you know for damn sure you aren't selling that thing and paying taxes on it. you could sell it to some sleazy back alley deal maker like kat kid off the books OR you could just use your neighborhood crypto exchange to give you a loan in united states dollars backed by that asset. now you've got your cash and no money to mr. tax bad person USA. this is probably a big piece of why the gov. can't decide if it hates crypto's guts yet or not. people "stake" crypto on some exchanges and get massive interest rates paid on it and don't know how that works. this is a lot of what's going on behind the scenes. it could for sure blow up in your face but probably not. FTX does a lot of this stuff I think.

Love this idea, but the only estimate I’ve seen so far is from Coinbase and they’re offering 8% APY

It is a real thing. The added bonus for the people that have the assets to continually do it without stripping all equity from their assets before death is that their estate will pay for those loans. And it's likely a portion of their estate will need to be liquidated to pay the loans off. Assuming the estate was gifted to beneficiaries, those people don't pay capital gains on the liquidation because the inherited assets get a new step up basis, meaning no capital gains except for whatever gains happened after the death of the original person.

[KITNfury]

At least that's how it was explained to me. I haven't gotten really rich and died yet. Nor has anyone gifted me a 1%er type estate

[DaBigTrain]

I have more than 1 ETH for the first time in years.

[steve dave]

I have more than 1 ETH for the first time in years.

Nice work

[Pete]

My 13 year old expects to get another fat $60 worth of ETH deposited from his mining operation any day now for this month.  That's up from the $50 or so he was expecting due to the recent price increases in ETH.  High times around here, guys.

[catastrophe]

I'm almost certainly going to butcher the hell out of this but here goes my retelling of a recent odd lots episode where it was covered:

another great use for crypto is avoiding paying your taxes. but legal, like a rich guy. really wealthy people will have vast amounts of equity or other capital. but they can't sell it to get american dollars because then they'd have to pay taxes on the cap gains which rich people HATE. so, instead, they just take out a loan on backed by that asset and use that money. zero to you tax man and I'm only out a small interest rate on that loan. well, defi and crypto make it pretty easy for the everyman to do that. you own like an entire btc but you bought at $100 so you know for damn sure you aren't selling that thing and paying taxes on it. you could sell it to some sleazy back alley deal maker like kat kid off the books OR you could just use your neighborhood crypto exchange to give you a loan in united states dollars backed by that asset. now you've got your cash and no money to mr. tax bad person USA. this is probably a big piece of why the gov. can't decide if it hates crypto's guts yet or not. people "stake" crypto on some exchanges and get massive interest rates paid on it and don't know how that works. this is a lot of what's going on behind the scenes. it could for sure blow up in your face but probably not. FTX does a lot of this stuff I think.

Love this idea, but the only estimate I’ve seen so far is from Coinbase and they’re offering 8% APY

It is a real thing. The added bonus for the people that have the assets to continually do it without stripping all equity from their assets before death is that their estate will pay for those loans. And it's likely a portion of their estate will need to be liquidated to pay the loans off. Assuming the estate was gifted to beneficiaries, those people don't pay capital gains on the liquidation because the inherited assets get a new step up basis, meaning no capital gains except for whatever gains happened after the death of the original person.

I understand it’s a real thing. What I’m saying is I’m not aware of who all will loan you cash with crypto as collateral other than Coinbase (where all my crypto happens to be) and their rates are not great.

[yoga-like_abana]

My 13 year old expects to get another fat $60 worth of ETH deposited from his mining operation any day now for this month.  That's up from the $50 or so he was expecting due to the recent price increases in ETH.  High times around here, guys.

Other than your electrical bill that’s awesome


Sent from my iPhone using Tapatalk

[DaBigTrain]

My 13 year old expects to get another fat $60 worth of ETH deposited from his mining operation any day now for this month.  That's up from the $50 or so he was expecting due to the recent price increases in ETH.  High times around here, guys.

Other than your electrical bill that’s awesome


Sent from my iPhone using Tapatalk

They are moving to Proof of Stake soon so not sure the electric bill will be that high for much longer.

[Pete]

My 13 year old expects to get another fat $60 worth of ETH deposited from his mining operation any day now for this month.  That's up from the $50 or so he was expecting due to the recent price increases in ETH.  High times around here, guys.

Other than your electrical bill that’s awesome


Sent from my iPhone using Tapatalk

They are moving to Proof of Stake soon so not sure the electric bill will be that high for much longer.

Yeah, he is trying to decide what to mine next. He’s also wondering if maybe used GPU’s could be bought up or at least less pressure on new GPU’s if he tries to expand (I.e. bum money off me or from Xmas gift cards).

[DaBigTrain]

My 13 year old expects to get another fat $60 worth of ETH deposited from his mining operation any day now for this month.  That's up from the $50 or so he was expecting due to the recent price increases in ETH.  High times around here, guys.

Other than your electrical bill that’s awesome


Sent from my iPhone using Tapatalk

They are moving to Proof of Stake soon so not sure the electric bill will be that high for much longer.

Yeah, he is trying to decide what to mine next. He’s also wondering if maybe used GPU’s could be bought up or at least less pressure on new GPU’s if he tries to expand (I.e. bum money off me or from Xmas gift cards).

So for what he already has you might look into(if you haven't already) staking the ETH he has earned or bought and get paid interest on it.  That would be a good way to have a passive interest income on it.  NVDA has been on fire lately but once the switch is made there have been a lot of people saying the stock will suffer a lot for a period of time and the market will be flooded with GPUs that nobody is using anymore to mine. 

[DaBigTrain]

SHHHHHHIIIIBBBBBBBBBBBBBBBBAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

[Spracne]

Good thing I now hold hundreds of millions of these shits

[DaBigTrain]

https://twitter.com/100trillionusd/status/1453104489247002632

[stunted]

[stunted]

 

[DQ12]

Shiba just won't yield.

[steve dave]

Shiba just won't yield.

all these other "coins" decided to lay down and take the day off but NOT OUR SHIB!

[DQ12]

Shiba just won't yield.

all these other "coins" decided to lay down and take the day off but NOT OUR SHIB!

Bitcoin: no bones day
LTC: no bones day
ETH: no bones day
Sol: no bones day
SHIB: BONES DAY